Downstream deregulation will fail without regulatory discipline –TotalEnergies

TotalEnergies Marketing Nigeria Plc has warned that Nigeria’s deregulated downstream petroleum market will fail to deliver long-term value unless it is backed by firm regulatory discipline, consistent policies and strict safety enforcement.

The oil major stated that the absence of these fundamentals, rather than a lack of capital, was responsible for the exit of most multinational oil companies from Nigeria’s downstream sector over the years.

The company made the position known in a statement issued on Thursday, after its participation in a high-level panel session titled “Driving Domestic Value: Transforming Downstream Markets and Refining” at the ongoing 2026 Nigeria International Energy Summit in Abuja.

It also reaffirmed its long-term commitment to Nigeria’s downstream petroleum sector, citing policy stability, deregulation, and improving supply infrastructure as key factors that sustain its operations in the country.